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Nelly Group AB
(NELLY)
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Rating:60Neutral
Price Target:
kr36.00
▼(-2.91% Downside)
Action:Reiterated
Date:07/18/26
The score is supported by improved profitability and a healthier balance sheet, along with a low P/E valuation. These positives are tempered by weak technical positioning (below major moving averages with negative MACD) and mixed recent operating momentum, including softer revenue/profitability versus 2025 and reduced cash conversion.
Positive Factors
Improved Profitability
Sustained gross margins around 55% and mid-teens operating/net margins reflect structural improvements in assortment, pricing and cost control. This supports durable cash generation, resilience in promotions-driven retail, and capacity to reinvest in marketing and private labels.
Negative Factors
Revenue Softness
Top-line weakness versus the prior year suggests demand or market-share pressure after the recovery. Slower revenue growth can compress operating leverage in fashion e-commerce, making sustained margin levels and cash conversion harder to maintain over multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Profitability
Sustained gross margins around 55% and mid-teens operating/net margins reflect structural improvements in assortment, pricing and cost control. This supports durable cash generation, resilience in promotions-driven retail, and capacity to reinvest in marketing and private labels.
Read all positive factors
Nelly Group AB (NELLY) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr1.08B
Dividend Yield2.91%
Average Volume (3M)118.80K
Price to Earnings (P/E)8.0
Beta (1Y)0.93
Revenue Growth6.54%
EPS Growth6.20%
CountrySE
Employees174
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Retail
Share Statistics
EPS (TTM)4.50
Shares Outstanding30,129,398
10 Day Avg. Volume115,491
30 Day Avg. Volume118,804
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)8.02
Price to Sales (P/S)2.58
P/FCF Ratio29.19
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)3.25
Revenue Forecast (FY)kr1.23B
Nelly Group AB Business Overview & Revenue Model
Company Description
Nelly Group AB (publ) operates as a fashion company in Sweden, rest of Nordics, and internationally. The company offers clothes, accessories, beauty products, and sportswear, as well as lingerie and swimwear for women; and clothes, shoes, and acce...
How the Company Makes Money
Nelly Group AB primarily makes money by selling products directly to consumers through its e-commerce channels (direct-to-consumer online retail). Revenue is generated when customers purchase apparel, footwear, accessories, and beauty items sold o...
Nelly Group AB Financial Statement Overview
Summary
Income Statement
73
Positive
Balance Sheet
68
Positive
Cash Flow
61
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.24B | 1.26B | 1.09B | 1.06B | 1.30B | 1.43B |
| Gross Profit | 675.00M | 686.00M | 581.40M | 518.60M | 566.30M | 638.80M |
| EBITDA | 177.90M | 225.30M | 145.70M | 63.60M | -22.40M | -29.10M |
| Net Income | 135.30M | 168.50M | 83.40M | -1.50M | -71.70M | -47.80M |
Balance Sheet | ||||||
| Total Assets | 1.04B | 989.70M | 898.50M | 799.80M | 837.20M | 925.40M |
| Cash, Cash Equivalents and Short-Term Investments | 300.60M | 253.80M | 196.90M | 151.10M | 96.80M | 197.50M |
| Total Debt | 267.80M | 287.10M | 287.30M | 283.60M | 294.60M | 316.40M |
| Total Liabilities | 594.60M | 583.30M | 661.30M | 621.20M | 703.60M | 721.00M |
| Stockholders Equity | 442.70M | 406.40M | 237.10M | 178.60M | 133.60M | 204.40M |
Cash Flow | ||||||
| Free Cash Flow | 99.70M | 111.60M | 153.30M | 51.10M | -75.90M | -4.30M |
| Operating Cash Flow | 104.60M | 123.10M | 154.50M | 59.30M | -64.80M | 18.80M |
| Investing Cash Flow | -25.50M | -32.10M | -22.40M | -22.90M | -11.10M | -22.90M |
| Financing Cash Flow | -38.30M | -34.10M | -56.40M | 17.80M | -25.00M | -29.20M |
Nelly Group AB Technical Analysis
Negative
37.08
Price Trends
35.73
Positive
38.40
Negative
69.41
Negative
Market Momentum
0.14
Positive
49.15
Neutral
25.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:NELLY, the sentiment is Negative. The current price of 37.08 is above the 20-day moving average (MA) of 35.75, above the 50-day MA of 35.73, and below the 200-day MA of 69.41, indicating a neutral trend. The MACD of 0.14 indicates Positive momentum. The RSI at 49.15 is Neutral, neither overbought nor oversold. The STOCH value of 25.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:NELLY.
Nelly Group AB Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | kr1.42B | 20.69 | 11.99% | 2.19% | 11.47% | 15.20% | |
64 Neutral | kr9.13B | 31.14 | ― | ― | 3.66% | -11.08% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | kr1.08B | 7.97 | 33.64% | 2.91% | 6.54% | 6.20% | |
53 Neutral | kr11.74B | 14.63 | 11.65% | 3.66% | 8.88% | -6.70% | |
52 Neutral | kr53.17M | -16.24 | -4.97% | ― | -11.44% | 73.71% | |
38 Underperform | kr4.18B | 53.79 | 1.82% | 7.40% | -0.11% | 5.51% |
* Consumer Cyclical Sector Average
SE:NELLY
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35.44
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Nelly Group AB Corporate Events
Nelly Group launches SEK 30 million share buyback to optimise capital structure
Jul 15, 2026
Nelly Group AB’s board has approved a share repurchase programme of up to SEK 30 million, targeting a maximum of 2,500,000 ordinary shares, equal to about 8.18% of its total share count. The buyback, executed by Danske Bank under EU Market A...
Nelly Group Posts Lower Q2 Earnings but Strengthens Cash Position
Jul 15, 2026
Nelly Group AB reported weaker financial results for the second quarter of 2026, with net revenue falling 4.3 percent to SEK 346.3 million and gross margin easing to 53.2 percent. Operating profit declined to SEK 32.3 million, cutting the operatin...
Nelly Group Sets July Date for Q2 2026 Interim Report Presentation
Jun 24, 2026
Nelly Group AB, a Nordic online fashion retailer targeting young women with its NELLY brand and external labels, has built a strong digital presence and selective physical footprint, with flagship stores in Stockholm and Copenhagen and a solid pos...
Nelly Group Wins Broad Shareholder Backing at 2026 AGM
May 18, 2026
Nelly Group’s 2026 Annual General Meeting approved all proposals from the board and nomination committee, including the re-election of six board members and the confirmation of Ebba Ljungerud as chair. Shareholders adopted the 2025 accounts,...
Nelly Group Marginally Increases Share Capital After Warrant Exercise
Apr 30, 2026
Nelly Group AB has marginally increased its share capital after 24,606 ordinary shares were subscribed for through the exercise of warrants from a 2025/2026 incentive program approved at the 2025 annual general meeting. Following the transaction, ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.